Euro Group

Jean-Claude Juncker: “The sovereignty of Greece will be massively limited.”

Pete Baker on July 4, 2011, 9:01 pm

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After the Greek parliament voted to give everyone more time to come up with a better solution, Eurozone finance ministers agreed to release the promised €12billion to Greece to avoid an immediate default. But those same finance ministers have now delayed discussions on the details of a second bail-out for Greece, thought to be around 120bn euros, needed to pay the bills until the end of 2014. According to an Irish Times report today, the Greek finance minister Evangelos Venizelos has stated, “Euro Group decided through a …

Euro crisis: “When it becomes serious, you have to lie.”?

Pete Baker on May 19, 2011, 3:55 pm

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Another article, to add to those noted by Mick, on the wider economic and political considerations being argued in the eurozone. At the Guardian, Nuno Monteiro and Eduardo Sousa warn While a growing number of analysts recognise the likelihood of sovereign-debt defaults across Europe’s periphery in the next few years, the continent’s political and financial elites continue to see restructuring as the third rail of financial options. Despite all signs that the euro may be set on an implosion course, the EU …